On Apr. 4, FDIC fined Alma Bank for Bank Secrecy Act violations.
- Advised Alma Bank of right to receive assessment notice for civil money penalty.
- Alma waived right to hearing, entered into stipulation, consented to order to pay.
Alleged Violation
- FDIC determined has reason to believe Alma violated the Bank Secrecy Act, and
- implementing regulations, for the time period from Feb. 2013 through Apr. 2017.
Settlement
- Alma Bank was assessed a civil money penalty to pay in the amount of $1.25mn.
